by Ed Steer
Yesterday In Gold & Silver
The gold price got sold down a few dollars right at the 6 p.m. EDT open on Sunday evening in New York. It rallied back to unchanged within a few hours, but all four attempts to rally above unchanged during the Monday trading session were met by a willing seller. Then, once the 1:30 Comex close was in, the not-for-profit seller[s] sold gold down some more—and it closed on its absolute low tick of the day.
The price activity looks more impressive/alarming on the chart because of the scale, but regardless of that, the price capping was evident, including the sell-off late in electronic trading. Nothing free market about this.
The high and low ticks weren’t worth the effort of looking up.
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